Jack Ma retirement | Pixr8 News

With all the speculations regarding Alibaba’s Jack Ma’s expected retirement, the company announced today that its CEO, Daniel Zhang, will succeed Ma as chairman next year, exactly one year after on Sept 10, 2019. After resigning from the role of chairman next year, Ma will continue serving as a board member until its annual general shareholders’ meeting in 2020. Even after that, Ma will remain a lifetime partner of the Alibaba Partnership, or a group of 36 partners drawn from the senior management ranks of Alibaba Group companies and affiliates. "Under his stewardship, Alibaba has seen consistent and sustainable growth for 13 consecutive quarters... Starting the process of passing the Alibaba torch to Daniel and his team is the right decision at the right time," Ma said in a letter rel...

Jack Ma, the founder of the largest Chinese e-commerce platform Alibaba Group is reportedly stepping down from the position of executive chairman of the company from Monday, marking the end of an era. However, one of the richest men in China, Jack Ma has stated that he will remain on Alibaba's board of directors. The primary motive of stepping down from his position is that he has planned to pursue philanthropy in education. “I love education,” he said. Ma planned to retire and is willing to dedicate more of his time and fortune to philanthropy with the creation of a foundation in his own name focused on education, following in the footsteps of billionaire Bill Gates. "There's a lot of things I can learn from Bill Gates," Jack Ma said. "I can never be as rich, but one thing I can do...

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Alibaba Founder Jack Ma will Step Down in 2019

Alibaba’s Jack Ma to Step Down & Focus on Philanthropy